"A revamped ACCA in 2025 - ambitious and welcome, but still no easy feat for its students”
The employment world has changed, and accountancy is no different! With this in mind, the ACCA has evolved their qualification to help future accountants and finance employees.
For those who read my last blog entitled “From Firm to Finance Team” which highlighted the benefits of working in business, it seems quite interesting that many of the changes made to the revamped ACCA are so relevant.
With the introduction of the new Essential Employability Modules (EEMS), embedded learning on ethics, sustainability, technology and employability will become integral parts of the syllabus and designed with the future in mind. Another factor is the reduction in exams at the Strategic Professional level from thirteen papers to eleven, which will be music to the ears of busy professionals.
The ACCA qualification certainly brings numerous benefits to both employers and employees. However, the pressures and challenges of the modern world can create a barrier that is not ideal for either party. Over the summer, I have spoken to many finance professionals who are currently undertaking the qualification, and unfortunately there is a common theme. Many are having to put their studies on hold due to time pressures at work and other life commitments. There is no lack of ambition, but they simply cannot find the time. From an employer perspective this creates a negative effect on the employee, meaning they will potentially become disaffected and ultimately leave. From an employee perspective, career and financial ambition is being restrained.
The ACCA recommends an average of 150 hours of study per paper, which is some feat whilst holding down a full-time job. Throw into that, a workforce who are busier than ever with the pressure to balance work and home life perfectly making completing a qualification very challenging. The biggest challenge is managing time and trying not to burn out in an ever-busier work/life in 2025.
As a Specialist Finance Recruiter, I speak to part-qualified and fully qualified candidates every day and here are some tips on how to balance work and studies effectively.
1. Speak to your employer
Be transparent with your employee about your ACCA journey and the benefits of completing your ACCA. Many of my candidates quietly carry the burden of completing their qualification but it’s a win-win for you and your employer long term.
Employers that support their employees completing a qualification whilst working are much more likely to retain those staff members after completion.
· You’ll gain essential skills and the knowledge needed to add value to your organisation including extensive technical accountancy skills adding much deeper knowledge to your role alongside practical experience.
· You’ll be able to take on higher level roles and responsibilities and communicate more effectively on key business and financial matters.
· If you feel it’s appropriate you could request study leave and financial support for exam fees/materials.
2. Choose the right exam load for you!
ACCA is definitely a marathon and not a race so try not to take on too many papers at once.
Two per sitting is common and more than enough for working professionals. Some manage one per sitting if work is demanding so don’t be too hard on yourself. Work at the pace that is best for you.
3. Don’t burn out
Reward yourself when you hit milestones, plan in breaks and ensure you still have some free time because you can’t be effective if you work all the time. Ensure you take adequate nutrition, sleep and exercise to be able to juggle work and study.
4. Tap into other sources of support
The most challenging ACCA papers are said to be the Strategic Business Leader paper, Audit and Assurance and Performance Management levels. Throughout this time, you could join ACCA forums on social media such as Facebook, listen to additional ACCA podcasts during your commute and make use of study apps such as the ACCA Student Planner to stay organised and connected.
Whilst the ACA and ACCA are well-suited for traditional accounting and audit roles CIMA has become extremely popular and stands apart by focusing on management accounting and business strategy, perfect skills for a step into an industry finance role.
If you would like a chat about how best to use your qualification either in a corporate or SME role then please reach out to me today at charlotte@annecorder.co.uk
As always, thanks for reading